81% of Nubank’s Under-18 customers using “Caixinhas” make recurring investments

São Paulo, October 11, 2024  – In the spirit of Children’s Day, celebrated this Saturday (12) in Brazil, Nu observes that its young customers under the age of 18 are keeping an eye on the future with initial steps in investments, holding over R$ 286 million in custody. More than 1 million of them maintain resources with daily returns at 100% of the CDI in investments made in Nubank’s RDB (Bank Deposit Receipts) through the “Caixinhas” (Money Boxes) experience. The recurrence of contributions, which reveals a focus on the long term, is already evident: about 81% of minors with active “Caixinhas” have made two or more contributions using the tool.

With a user base of over 3 million, reached in May, Nubank’s account for Under-18ss aims to offer autonomy to young users while simultaneously providing parents with the necessary tools to actively participate and monitor their financial journey until they reach adulthood.

In this experience, while the young users have access to features such as Pix, debit cards, mobile recharges, investments through “Caixinhas,” and online debit purchases, including discounted Gift Cards, their legal guardians can participate in this journey through Parental Control. This includes notifications of the minors’ financial transactions, allowing parents to monitor their children’s transactions in real time directly through the app.

Opening an Under-18 account is possible for children of Nubank customers, upon request by the legal guardian through the app. From the initial registration, the minor receives an invitation via the provided email, downloads the Nubank app, and completes the registration.

Gift Cards: A growing trend

Under-18s can also purchase Gift Cards at exclusive discounts, which can be used on platforms such as Google Play, Xbox, PlayStation, Uber, Spotify, among others. The demand for this type of product stands out among minors: this age group accounted for 38% of the total Gift Cards acquired by the entire Nubank customer base in Brazil in September.

Pix or Debit?

Between October 2023 and September 2024, 684 million Pix transactions (both incoming and outgoing) were recorded, averaging 57 million each month made by young users aged between 10 and 17 with a Nubank account. Pix, in fact, has proven to be a relevant payment method among them, with about 380 million external transfers, while the volume of debit purchases reached 153 million during the period.

The categories of commercial establishments that stand out the most in debit purchases by underage Nubank users are supermarkets and grocery stores, followed by various food stores (cafés, convenience stores, ice cream shops, etc.), and fast-food chains in third place.